Full time recruiting from small bank SA

Hey guys, 

I recently accepted a summer analyst offer for a small bank (small in US, top 5 in other regions) and I just wanted to know how I should go about full time recruiting for a bigger bank. I transferred to a bigger name school, but it wasn't in time for SA recruiting, so any tips on what I should do now for FT recruiting? Is it harder than SA recruiting? Do I start networking now? Any tips help, thank you!

Comments (9)

Most Helpful
1y 
ABACUS 2007-AC1, what's your opinion? Comment below:

Start building a database of people from your new university at various banks that you are interested in. May be good to join some finance organizations that the network was involved in to make it look less like you moved universities just for the network but rather are involved in the finance network on campus.

Then as FT recruiting gets closer start reaching out and having those initials conversations. I was able to move from a really small boutique bank my junior summer to a MM bank FT. Definitely going to require more effort but is doable.

You may not get as much technical experience during your SA, at least I didn't, so you will need to study separately for that to be prepared. The unique positioning the boutique SA may give is more responsibility with clients. Try to get on as many calls as possible and try to speak/drive the calls as much as possible. This will be extremely helpful in interviews.

1y 
cheesecakefactory, what's your opinion? Comment below:

Thank you! This helps, but do you know when the FT recruiting timeline starts? Also, for efficiency, when should I start studying realistically?

1y 
ABACUS 2007-AC1, what's your opinion? Comment below:

I mean doesn't harm you to slowly start studying technicals. You'll definitely get asked a lot of these coming from a small boutique. Nothing intensive but if you can do 15-20 a few days a week now, it'll be second nature when interviews come around. Then as you have conversations with people at different banks try to ask questions that really help position your "Why Xx Bank?" for interviews.

Timeline slightly varies every year but I would be ready to go by May 2022

1y 
cheesecakefactory, what's your opinion? Comment below:

Thanks for the tips man! I'd hope to be in your position as MM hours and lifestyle are so much more appealing than BB imo!

  • Associate 3 in IB-M&A
1y 

The above comment really covers it. Only chiming in to add that while SA -> FT can be a tough conversion, it's ridiculously easy to lateral once you've done 1 year FT even from a smaller bank. So if you don't make it, keep an eye on your favorite banks/groups to see if they post openings once you're 12 months in.

The only part of the above I disagree with is trying to speak up or drive calls... most FT analysts/associates don't talk at all on client calls. Absolutely don't say a word on a client call unless someone tells you to, that's a great way to get no offer which will derail your FT recruiting.

  • Associate 3 in IB-M&A
1y 

Most people don't want to lateral (already have good connections at group, don't want to relearn new process, signed PE offer). Plus, GS TMT & co is a very different work life balance than your average small bank for very little incremental money. Pretty much every bank is always short on senior analysts, as people leave early or they want more bodies.

It's ridiculously easy in that you can apply online and will get a first round from most places, versus SA/FT you're one of a million applying. If you have 1-2 closed deals and can talk about them, most MM/BB/EB will want to talk to you.

Even GS TMT for example though lost something like 3 analysts in the first 6 months last year, so they've got a need for experienced people.

1y 
cheesecakefactory, what's your opinion? Comment below:

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